I love gift cards. Getting them, giving them and most of all, spending them.

I'm not alone.

Market research predicts spending on gift cards is expected to reach a record high of $35 billion this year.

 Seventy percent of you will buy at least one gift card. More than half of you hope to receive at least one, according to the National Retail Federation.

Whether giving or receiving, there are a few things you need to know about these perfect little presents.

Let's start with this: they're not perfect at all.

Some charge you for not spending them. Some expire. Some cost you more than the value of the card. Some charge for shipping and handling. I haven't figured out how it could possibly cost $4 to mail a 2 inch by 3 inch piece of plastic.

For the best deals on gift cards, shop direct. Go to your retailer of choice, and pick up a card for however much you want to give. Or, pop into your neighborhood gas station or drugstore for a pretty good selection — everything from Bed, Bath and Beyond and Linens and Things to iTunes and spa days. What else could a last-minute shopper need?

Retailer cards — whether bought from the store or the Valero station down the street — usually don't charge fees.

If you're looking at credit card-style plastic to spread holiday cheer that comes with a little more choice, plan for it to cost you at least a couple of bucks.

Credit card gift cards — the nifty MasterCard, Visa, American Express and Discover cards you can spend just about anywhere, cost between $2.95 and $6.95, according to a 2007 gift-card study by Bankrate.com.

Even if you're willing to pay to buy your loved one a shopping spree of their choice, they're going to have to remember to use the cards before they expire or start charging. American Express charges a $2 monthly service fee on gift cards 366 days old. Discover cards expire after two years and start charging a $2.50 a month dormancy fee after one year of consecutive inactivity.

If you're one of the last-minute shoppers referenced above and you're looking to send a little something to a far-off loved one, an e-gift card — deliverable in mere minutes — could be the way to go.

Not all stores offer them, but most that do don't charge fees or have expiration dates, according to Bankrate's survey. But some retailers, such as Barnes and Noble and Costco, only allow e-gift cards to be redeemed online.
All of that brings me to this: When giving the gift of shopping, don't forget to give the rules.

All gift cards come with terms and conditions. So pass the boring-looking pamphlet filled with fine print.

Gift cards rock, but they aren't perfect.